9,073 Shares in Teck Resources Ltd (NYSE:TECK) Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA purchased a new position in shares of Teck Resources Ltd (NYSE:TECK - Free Report) TSE: TECK during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,073 shares of the basic materials company's stock, valued at approximately $330,000.

A number of other hedge funds have also bought and sold shares of TECK. Jones Financial Companies Lllp raised its stake in Teck Resources by 342.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,758 shares of the basic materials company's stock worth $71,000 after buying an additional 1,361 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Teck Resources by 6.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,844 shares of the basic materials company's stock worth $196,000 after buying an additional 297 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Teck Resources by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,415,536 shares of the basic materials company's stock worth $57,363,000 after buying an additional 21,416 shares during the last quarter. Raymond James Financial Inc. bought a new position in Teck Resources during the fourth quarter worth $14,344,000. Finally, PNC Financial Services Group Inc. raised its stake in Teck Resources by 2.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,632 shares of the basic materials company's stock worth $471,000 after buying an additional 243 shares during the last quarter. Institutional investors own 78.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Teck Resources in a research note on Wednesday. They issued a "hold" rating for the company. Veritas raised shares of Teck Resources to a "hold" rating in a research note on Friday, April 11th. Stifel Canada raised shares of Teck Resources to a "hold" rating in a research note on Tuesday. UBS Group reaffirmed a "neutral" rating on shares of Teck Resources in a research note on Tuesday, April 15th. Finally, Desjardins assumed coverage on shares of Teck Resources in a research note on Friday, April 4th. They issued a "buy" rating for the company. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $65.25.

Teck Resources Stock Down 1.3%

Shares of NYSE:TECK traded down $0.52 during midday trading on Friday, hitting $38.29. 4,451,529 shares of the company's stock were exchanged, compared to its average volume of 3,252,937. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.36 and a quick ratio of 2.57. The stock has a 50 day moving average price of $37.92 and a 200-day moving average price of $38.83. The company has a market cap of $18.50 billion, a PE ratio of 66.02, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80. Teck Resources Ltd has a 12 month low of $28.32 and a 12 month high of $54.13.

Teck Resources (NYSE:TECK - Get Free Report) TSE: TECK last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.24 by $0.18. Teck Resources had a net margin of 3.48% and a return on equity of 4.53%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm's revenue for the quarter was up 41.4% on a year-over-year basis. On average, sell-side analysts anticipate that Teck Resources Ltd will post 1.53 EPS for the current fiscal year.

Teck Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.0901 per share. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Teck Resources's previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 0.94%. Teck Resources's payout ratio is 62.07%.

Teck Resources Profile

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.